With reference to the last communication dated June 1, 2021 on the BTA between JSW Steel (the 'Purchaser') and the Company (the 'Seller') for sale of Plates and Coil Mill Division ('PCMD Division'), Welspun Corp has informed that as purchase consideration, today the Company has received Rs 498.50 crore, taking the total receipt to Rs 723.50 crores as on June 08, 2021. The balance consideration, subject to closing adjustments for net working capital will be received on fulfilment of regulatory approvals and payment milestones as provided under the BTA.
The above information is a part of company’s filings submitted to BSE.
